Aecon Group (TSE:ARE) PT Raised to C$21.00 at CIBC

Aecon Group (TSE:ARE) had its target price increased by analysts at CIBC from C$20.00 to C$21.00 in a research report issued on Monday, October 29th. CIBC’s price target would indicate a potential upside of 11.64% from the company’s current price.

Several other equities analysts have also commented on the stock. Industrial Alliance Securities upgraded shares of Aecon Group from a “buy” rating to a “strong-buy” rating and increased their price target for the company from C$19.50 to C$23.00 in a research note on Friday, October 26th. Royal Bank of Canada increased their price target on shares of Aecon Group from C$17.00 to C$18.00 and gave the company a “sector perform” rating in a research note on Thursday, October 4th. Canaccord Genuity increased their price target on shares of Aecon Group from C$22.00 to C$23.00 in a research note on Thursday, October 4th. Desjardins restated a “buy” rating on shares of Aecon Group in a research report on Wednesday, September 26th. Finally, National Bank Financial restated an “outperform” rating and set a C$19.00 target price on shares of Aecon Group in a research report on Friday, September 28th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of C$22.00.

Aecon Group stock traded up C$0.12 during mid-day trading on Monday, hitting C$18.81. The company had a trading volume of 86,383 shares, compared to its average volume of 363,590. Aecon Group has a 1 year low of C$14.27 and a 1 year high of C$20.06. The company has a current ratio of 1.46, a quick ratio of 1.29 and a debt-to-equity ratio of 99.99.

In other news, Director John Michael Beck sold 20,922 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of C$16.51, for a total transaction of C$345,422.22. Over the last 90 days, insiders have sold 70,491 shares of company stock worth $1,173,087.

About Aecon Group

Aecon Group Inc provides construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through four segments: Infrastructure, Energy, Mining, and Concessions. The Infrastructure segment is involved in the construction of roads and bridges, and rail and transit systems, as well as in asphalt production and aggregates, municipal construction, commercial site design, and material engineering and design activities.

Further Reading: Balanced Fund

Analyst Recommendations for Aecon Group (TSE:ARE)

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